Since that first battle, Apple and Qualcomm have been
filing lawsuits back and forth. The newest suit claims that
Apple is illegally using six Qualcomm patents that are separate
from the monopoly position Apple thinks Qualcomm is abusing.

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The International Trade Commission, where Qualcomm's latest
complaint was filed, is a slow-moving body, and the requested
order isn't expected to affect the launch of the iPhone 8 toward
the end of this year,
according to the Wall Street Journal. The ITC granted an
injunction against Apple in the past, but then-President Obama
shot down the move and allowed Apple to continue selling its
phones.

Investors don't seem worried about Qualcomm's claims. The delay
in official action means it is likely to be a long time before
the legal move would have an effect, if it has any at all.

"We believe the escalation of the dispute is unprecedented and
will not go very far," Kulbinder Garcha, an analyst at Credit
Suisse said in a recent note to clients.

Garcha went on to say that despite the messy legal battles, the
two companies are likely to continue working together, thanks to
the importance of Qualcomm's technology and Apple's scale.

Amit Daryanani, an analyst at RBC, said to "brace for a long and
ugly battle."

"QCOM's actions mark an escalation in feud with AAPL, we don't
think there is a cause for alarm for investors. Near term impact
on AAPL should be negligible as ITC typically takes 16-18 months
to reach a conclusion," Daryanani said.

RBC has a price target of $168.00, which is 19% higher than
Apple's current price of $142.73. Garcha is slightly more bullish
and thinks Apple is going to $170.